Australia Philippines Free Trade Agreement

The ASEAN-Australia-New Zealand Free Trade Area (AANZFTA) is an agreement that includes one of the world`s most dynamic economic regions. All these free trade agreements now operate at the same time as AANZFTA, in addition to the Singapore closer economic partnership (2000). Growing people-to-people relations are fostered through trade, investment, cultural exchanges, educational tourism and migration. More than 250,000 Filipinos have made Australia their home and continue to make positive contributions to Australian society. In addition to the free trade agreement, New Zealand has agreements with the Philippines and Vietnam to allow temporary entry into work in New Zealand. Since then, New Zealand has set up a Working Holiday Scheme with both countries. Austrade`s philippine office is also responsible for Guam and Micronesia`s trade at a glance – AANZFTA, Australia`s largest trading partner, has played an important role in the growth of New Zealand trade in the ASEAN region. Since the implementation of AANZFTA in 2010, mutual trade between New Zealand and ASEAN has increased by almost 30%, an increase of more than $6 billion. AANZFTA is a free trade agreement between the Association of South Asian Nations (ASEAN), Australia and New Zealand.

Australia and the Philippines share an ambitious agenda of free trade agreements that goes beyond RCEP. For example, the Philippines hopes to join the Trans-Pacific Partnership (after the implementation of this agreement and the completion of the conditions of accession), to which Australia has joined as a founding member and could support the Philippines` accession process. Australia plans to support quality national infrastructure as well as trade research and negotiation capacity building. We also plan to support the Philippine Public-Private Partnership Centre in 2016, in addition to other infrastructure projects. AANZFTA is Australia`s first transnational free trade agreement. This is the first time that Australia and New Zealand have participated together in the negotiations for a free trade agreement with third countries. This is the first time that ASEAN has begun negotiations on free trade agreements covering all sectors simultaneously, including goods, services, investment and intellectual property. It is therefore the most comprehensive trade agreement ever negotiated by ASEAN. AANZFTA has also allowed us to open our markets and expand our trade to six countries where we do not have bilateral free trade agreements – mainly Indonesia, the Philippines and Vietnam, but also Myanmar, Brunei and Laos. In parallel with the AANZFTA negotiations, New Zealand successfully concluded bilateral negotiations on free trade agreements with Thailand (2005) and Malaysia (2010).

Recently, New Zealand has also successfully completed and ratified the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP), which also includes Vietnam, Singapore, Brunei Darussalam, Malaysia and Australia. . . .



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